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CONQUEROR - Courtney Smith
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Author:  The_Snowman [ Wed May 29, 2013 6:53 am ]
Post subject:  CONQUEROR - Courtney Smith
Hello all,

Just reading "How to Make a Living Trading Foreign Exchange" by Courtney D. Smith

Tag line is "A Guaranteed Income for Life"

There is much information in there to say the least; not the least of which is CONQUEROR

I have searched the internet and in particular certain Forex Forums, however it seems that this book has escaped the main stream, as I can find little to none reference to it.

This is a trend following, long term system, so scalpers may leave now.

I did find an Indicator, which shows when the 3 parameters of the method are met.

They are:

1. Today's close is less than the 10-day moving average of the close.

2. Today's 10-day moving average is less than the 10-day moving average 10 days ago.

3. Today's close is less than the close of 40 days ago.

Attached is a chart of the EUR-AUD showing where the conditions are met and signals given.

Seems to me that everyone is always looking for a definition of a trend and this method & indicator seem to meet that requirement to me.

I may ask over in the section if anyone could code a dashboard to show which pairs are in a trend.

By the way, Green for long, Red for short and blue is neutral.

Surely we could use lower time frames to enter using our favorite methods?

So, has anyone else read this excellent book?

Anyone tried to follow this type of trading method?

Cheers, John

:)
Author:  garyfritz [ Wed May 29, 2013 3:48 pm ]
Post subject:  Re: CONQUEROR - Courtney Smith
I have the book, and I took a class from Courtney Smith. I came to the conclusion his claims are, ahh, inflated. I backtested Conqueror and several of his other systems and I was unimpressed. Courtney sporadically published his trades, and his history didn't live up to his marketing. Suffice to say that after spending way too much money and time learning and testing his systems, I threw 'em out.

That indicator looks good, though, at least on that example. Might not look so good in a market that wasn't trending so strongly.
Author:  The_Snowman [ Thu May 30, 2013 9:33 am ]
Post subject:  Re: CONQUEROR - Courtney Smith
garyfritz wrote:I have the book, and I took a class from Courtney Smith. I came to the conclusion his claims are, ahh, inflated. I backtested Conqueror and several of his other systems and I was unimpressed. Courtney sporadically published his trades, and his history didn't live up to his marketing. Suffice to say that after spending way too much money and time learning and testing his systems, I threw 'em out.

That indicator looks good, though, at least on that example. Might not look so good in a market that wasn't trending so strongly.
But that is the whole point, it is for longer term trading, it only wants to trade when the chart looks good.

Pareto principal - 80% of profit from 20% of trades.

What it looks like on ranging market is crap as you say, but then we don't want to be trading then, and we won't be if there is no signal.

However, I agree with you on the general hype and marketing surrounding anything to do with Forex

:D
Author:  garyfritz [ Thu May 30, 2013 9:07 pm ]
Post subject:  Re: CONQUEROR - Courtney Smith
If the strategy keeps you out of ranging markets and only jumps on in strong trends, you're golden. If I remember right, Conqueror didn't do that very well. If you know when trends are going to happen, you don't need Conqueror or anything else.

It's been several years since I tested it but I know the results were poor enough that I dumped it.
Author:  SteveHopwood [ Thu May 30, 2013 10:29 pm ]
Post subject:  Re: CONQUEROR - Courtney Smith
garyfritz wrote:If the strategy keeps you out of ranging markets and only jumps on in strong trends, you're golden. If I remember right, Conqueror didn't do that very well. If you know when trends are going to happen, you don't need Conqueror or anything else.

It's been several years since I tested it but I know the results were poor enough that I dumped it.
We are all finding the same thing, aren't we Gary? Every trend-spotting system out there is fantastic when the market really is trending. Trouble is, when an indi shows a trend but the market is actually retreating into a trending period, by the time we recognise this our trade/system is already blown to buggery.

The Holy Grail is not recognising a trend, it is recognising a range. You and I both know that the idea that something that someone published several years ago and sold for lots of money will do the job is ludicrous - we both paid a lot of money to discover this.

My weekly round-ups to all and nightly Welcome messages to new members tell everyone where to go to learn to trade properly. Ok, so not all will succeed even given the fantastic depth of knowledge available but you and I can be certain of one thin; crap like Conqueror are rubbish and only the naive think otherwise.

:D
Author:  The_Snowman [ Fri May 31, 2013 12:24 am ]
Post subject:  Re: CONQUEROR - Courtney Smith
Thanks for the replies and excellent information as usual.

As I first mentioned, I could find NO reference to this book, indicator or method with any search; now people will be able to do so as I included the words in the heading.

As for being rubbish, well, even Brijon and his PITBULL got a good run on thee forum, even time wasted on an EA, yards of posts, so much for recognizing quality... you get what you pay for as they say, and that is what it was worth.

:mrgreen:
Author:  The_Snowman [ Fri May 31, 2013 12:59 am ]
Post subject:  Re: CONQUEROR - Courtney Smith
Upon further investigation, found this interesting document

:shock:

Source:

https://www.nfa.futures.org/basicnet/Ca ... eqnum=3461
Author:  garyfritz [ Fri May 31, 2013 3:00 am ]
Post subject:  Re: CONQUEROR - Courtney Smith
Ah, interesting. I knew he'd had a bit of a checkered past, but I didn't realize he ran afoul of the NFA so recently. But when you subtitle your book "A guaranteed income for LIFE!!" you should expect the NFA is going to get involved sooner or later...
Author:  The_Snowman [ Fri May 31, 2013 10:01 am ]
Post subject:  Re: CONQUEROR - Courtney Smith
Anyway, where is the correct place to ask about someone creating an EA for this method?

I wouldn't use it so much to make the actual trades, but just let it run on a demo account and screen for good trades based on time of day, day of the week, possible news releases, general knowledge of the pair, etc.

Parameters are hard and fast on the Daily price data, only 3 price data criteria, and I have an idea for triggering the trade entry on the 1 Hour chart.

Here are some trades I put on today, just based on the fact the Conqueror is showing a trend in place, without to much finesse for entry.

Any takers? Or possibly similar already exists?

Thanks, John

:)
Author:  The_Snowman [ Thu Jun 06, 2013 3:50 am ]
Post subject:  Re: CONQUEROR - Courtney Smith
An update on the chart posted the other day, and a few trending type trades taken since then - Go the TURTLES
:lol:
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